IOMEGA CORP Stock Forecast
IOMEGA CORP stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on May 20, 2024)
The IOMEGA CORP stock price fell by -2.78% on the last day (Monday, 20th May 2024) from £144.00 to £140.00. During the last trading day the stock fluctuated 9.26% from a day low at £135.00 to a day high of £147.50. The price has risen in 6 of the last 10 days and is up by 7.69% over the past 2 weeks. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 70 thousand shares were bought and sold for approximately £9.74 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.97% during the next 3 months and, with a 90% probability hold a price between £111.82 and £133.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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IOM.L Signals & Forecast
The IOMEGA CORP stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately £141.07. On a fall, the stock will find some support from the long-term average at approximately £136.34. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -4.76%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for IOMEGA CORP stock
IOMEGA CORP finds support from accumulated volume at £133.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £12.50 between high and low, or 9.26%. For the last week, the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IOM.L) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect IOMEGA CORP to open at £140.83, and during the day (based on 14 day Average True Range), to move between £132.61 and £147.39, which gives a possible trading interval of +/-£7.39 (+/-5.28%) up or down from last closing price. If IOMEGA CORP takes out the full calculated possible swing range there will be an estimated 10.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £144.00 (2.86%) than the support at £133.50 (4.64%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is IOMEGA CORP stock A Buy?
IOMEGA CORP holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.243 Sell Candidate Downgraded
Predicted Opening Price for IOMEGA CORP of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| £140.83 ( 0.595%) | £140.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IOM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 153.33 | 9.52 % | |
| R2 | 148.56 | 6.11 % | ||
| R1 | 145.61 | 4.01 % | ||
| Current price: | 140.00 | |||
| Support | S1 | 136.06 | -2.82 % | |
| S2 | 133.11 | -4.92 % | ||
| S3 | 128.33 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 147.00 | 5.00 % | |
| R2 | 146.00 | 4.29 % | ||
| R1 | 144.00 | 2.86 % | ||
| Current price | 140.00 | |||
| Support | S1 | 133.50 | -4.64% | |
| S2 | 130.00 | -7.14% | ||
| S3 | 129.00 | -7.86% |
IOM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 04, 2024 | Jan 04, 2024 | Jan 04, 2024 | £0 | 0% |
| 2 | Dec 06, 2022 | Jan 05, 2023 | Jan 27, 2023 | £1.94 | 1.56% |
| 3 | Jun 14, 2022 | Aug 11, 2022 | Sep 02, 2022 | £3.60 | 2.07% |
| 4 | Dec 07, 2021 | Jan 06, 2022 | Jan 28, 2022 | £2.42 | 1.49% |
| 5 | Jun 15, 2021 | Aug 12, 2021 | Sep 03, 2021 | £4.50 | 1.77% |
FAQ
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